Assurant

Discussion in 'General Insurance Agent Discussions' started by somarco, Oct 25, 2006.

  1. somarco
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    somarco Guru

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    Got a note from a lead broker saying they were exiting the business except for uninsurables. They said Assurant now allows agents to write business in ANY state without a NR license.

    Any of you heard about this?
     
  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Wow Bob, I'm shocked. Can you clarify a little further?
     
  3. somarco
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    somarco Guru

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    Wish I could. Figured the resident Assurant guru's could enlighten me.

    Here is what the email said.

     
  4. moonlightandmargaritas
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    I'm a GA Assurant and have heard nothing of this sort. I don't see where it says Assurant is getting out of anything but uninsurables?
     
  5. Sam
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    Sam Founder Administrator

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    Perhaps they just found out that they can be non-resident licensed across the country.
     
  6. somarco
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    Nope, the lead broker is only going to sell leads for uninsurables. He is going to write the insurables himself through Assurant.

    Perhaps I was reading too much in to it, regarding the non-res license. I do know some carriers allow overrides on sub-agents in other states without requiring the GA to have a non-res license. Maybe that is what this guy is doing. Contracting sub-agents in multiple states and collecting overrides rather than writing direct.
     
  7. Crabcake Johnny
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    Crabcake Johnny Guru

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    You nailed it. As a GA most states, except for about 4, allow overrides off sub-agents without the GA being licensed in that state. Assurant allows this while companies like Golden Rule don't.
     
  8. STIBROKER
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    STIBROKER God Moderator

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    Yep....heard the same thing....
     

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